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Tuesday, January 27, 2009

SUGE KNIGHT SUED FOR HIDING ASSETS?

The firm, Kaye Scholer, is claiming that they had to his Suge with the hefty bill because they had to go use extraordinary means to track down his assets for the auction. “The representation of the Trustee in this case has been particularly complex due to the individuals involved in the company’s operations and intentionally illicit, ‘gangster-style’……business operations of the debtor,” stated a Kaye Scholer bankruptcy case fee application.Kaye Scholer is citing a expenses related to uncovering some assets Suge tried to hide including, “a Malibu home, that Knight transferred to friends in an effort to shield those assets from creditors, a secret storage locker in Michigan that contained a ‘treasure trove’ of unreleased songs by famous Death Row artists [and] other secret tracks–and records of hidden bank accounts–stashed in a southern California warehouse,” says the Wall Street Journal.

The firm also had to reportedly negotiate with three women who all claimed the former head honcho owned them $500,000 in child support. The law firm that handled last week’s auction of Death Row Records is using Suge Knight’s “gangster-style” reputation as a the reasoning behind a $6.8 million case handling fee.

Source: Yo Raps

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